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<br />City of Centerville <br />City Conncil Meeting <br />August 14, 2002 <br /> <br />To: <br /> <br />Ms. Kim Moore-Sykes, City Administrator <br />Honorable Mayor and Council Members <br /> <br />From: <br /> <br />Ellen Paulseth, Finance Director <br /> <br />Debt-Related Transfers <br /> <br />The City budgets through the General Fund money to payoff certain debts it has <br />incurred. Traditionally, the audit firm has transferred the necessary funding to the <br />appropriate debt-service funds through adjustingjoumal entries at year-end. However, <br />the City can and should make these transfers at any time during the year so that Council <br />is cognizant of the transactions. The following transfers should be made by resolution of <br />the Council: <br /> <br />From: <br /> <br />To: <br /> <br />General Fund $92,158.38 City Hall Debt Service $92,158.38 <br />(to pay for 2003 debt service charges related to the financing of the city hall) <br /> <br />General Fund $47,500.00 87 Streets Debt Service $47,500.00 <br />(to provide for 2003 debt service charges related to 87 Streets G.O. Bond of 1998) <br /> <br />/~) <br />'-7 <br />\i <br />. \1 \"\1 <br />~ \'J <br />